Top 15 Banks & Credit Unions for Hassle-Free Currency Exchange!
Some of the links on this page are affiliate links, which means we may earn a small commission if you make a purchase through them. However, our opinions are entirely our own. To understand how we evaluate banking products, check out our rating methodology for unbiased reviews.
- Not all banks and credit unions offer foreign currency exchange services.
- Our curated list includes options for in-branch, phone, or online currency exchanges.
- Most institutions require you to be a customer to utilize their currency exchange services.
Planning a getaway and need to exchange currency? Your local brick-and-mortar banks or credit unions can provide you with fair exchange rates for various currencies. But don’t rush to the nearest branch—some banks might not offer exchanges at all! Here’s what you need to know about exchanging currency, including where to go and what you’ll need.
Financial Institutions That Offer Currency Exchange
Check out these 15 banks and credit unions that do exchange foreign currency. These institutions are also featured in our guides for the top banks and best credit unions. Remember, most banks require you to be a member to use their currency exchange services.
- America First Credit Union: Members can exchange up to $5,000 at select branches. A $10 fee applies for exchanges over $300, and $20 for those under $300.
- Bank of America: Customers can exchange up to $10,000 online or order larger amounts in-branch. There are no exchange fees, but a $7.50 fee applies for home delivery. Orders of $1,000 or more must be picked up at a branch.
- Citi: Exchange over 50 currencies by calling or visiting a branch. Citigold and Citi Priority customers enjoy no fees, while others face a $5 fee for transactions under $1,000. Delivery to your home costs $10 to $20.
- Citizens Bank: Exchange currency at a branch; contact your local branch for pricing.
- Chase Bank: Customers can exchange currency at local branches; call ahead to inquire about fees.
- First Citizens Bank: Exchange over 70 different currencies with no limits. Contact your branch for fee information.
- First Horizon Bank: Offers currency from over 65 countries. Customers need to visit a branch for exchanges and fees.
- Huntington Bank: Exchange up to $20,000 for an $8 fee at branches. Over 75 currencies are available.
- PNC Bank: Customers can exchange currency at local branches; call to ensure availability. No transaction fees apply.
- Regions Bank: Exchange currency at local branches; contact them for fee details.
- Service Federal Credit Union: Offers over 60 currencies. Order at a branch or over the phone; a $15 fee applies for orders under $500.
- State Employees Credit Union: Only members can exchange currency. Call ahead to confirm availability, with no transaction fees.
- TD Bank: Offers 55 currencies; orders can be made online or in-branch, but online orders have a $7.50 fee and a $1,500 limit.
- U.S. Bank: Customers can exchange currency in-branch or online. A $10 fee applies for orders of $250 or less; larger orders are fee-free.
- Wings Financial Credit Union: Offers over 90 currencies, with a $10 fee for orders under $300, which is waived for larger orders.
Understanding Currency Exchange Services
Currency exchange allows you to trade one type of money (like U.S. dollars) for another (like Euros). It’s typically done for travel or forex trading, where you swap currency to potentially profit. Keep in mind that the forex market influences the rates offered by banks and credit unions, but your rates might be less favorable than the institutions’. Always compare local currency exchange rates to find the best deal.
How to Exchange Foreign Currency
Not every financial institution offers currency exchange services, and even if they do, availability may vary. To avoid unnecessary trips, follow these steps:
Call Your Bank’s Customer Service
Before heading out, call your bank’s customer service to check if they have the currency you need. If it’s not available, they may help you place an order.
Some banks allow you to have the currency delivered to your home for a fee. If you need to visit in person, consider scheduling an appointment. While online rates can give you a rough idea, it’s best to ask a banker for the most accurate exchange rates.
Have Your Documents Ready
When you go to exchange currency, make sure to bring:
- A valid ID (driver’s license or passport)
- The currency you wish to exchange
- Cash or another payment method if your bank charges a fee
Banks usually charge a transaction fee, which can be either a flat fee or percentage-based, depending on the amount and type of currency exchanged. A bank representative will guide you through the process during your appointment.
And when you return from your trip, many financial institutions can also buy back your foreign currency!
Benefits of Using Local Currency Exchange Services
One major advantage of using local currency exchange services is that you’re likely to secure a better rate compared to waiting until you’re at the airport or your destination. When you’re traveling, time is often limited, pushing you to use instant currency exchange services that might not offer the best rates.
Getting your currency exchanged before your trip allows you ample time to compare rates. You can even utilize online banks, as you have the luxury of waiting for delivery.
Plus, exchange services at airports or tourist hotspots often charge inflated rates, knowing travelers have limited options. In contrast, you can take your time finding the best rates in your local area.
Why You Should Trust Us: How We Found Banks That Exchange Foreign Currency
Our personal finance team operates independently, ensuring that our writers and editors freely express their thoughts without outside influence. Want to learn how we evaluate products? Visit our editorial standards page.
Currency Exchange Services FAQs
To score the best exchange rate, compare rates from different providers, watch out for hidden fees, and stay updated on current market rates. Online currency converters can help set expectations.
Avoid airport currency exchanges whenever possible. They typically have higher fees and worse rates due to your limited options. Exchanging currency in advance will ensure you get a better deal.
The ability to negotiate exchange rates varies based on the service provider. While many locations have fixed rates, it never hurts to ask if they can offer you a better deal.
Most online currency exchange services are safe, especially those associated with banks or credit unions. However, always do your research in advance. Look for reviews and check if the service has had any issues.
It’s best to exchange currency before you arrive at your destination. This gives you adequate time to hunt for the best rates and ensures you’re not caught in a tourist trap for currency exchange.
